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Bitcoin Price Sailing A Shallow Sea

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The bitcoin cost boat again scraped a carcass opposite something in a mid-$430s (Bitstamp). Evidently, there was no damage, nonetheless a breeze is only not billowing a sails.

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Bitcoin Price Analysis

Time of analysis: 14h00 UTC

Bitstamp 1-Hour Candle Chart

Selection_20160523_003

From a research pages of xbt.social, progressing today:

Price stays above a long-term support that now runs by $434 (Bitstamp).

Yesterday’s disappearing call had tested a support and managed a rebound that gapped above a 20-period relocating normal in a 1hr chart. Unless there is a dynamic offered debauch in a market, a support turn might continue rejecting attempts to lift cost lower.

Despite vast buy orders appearing in a orderbooks – many of that might be orders shutting brief positions – there is not nonetheless any accordant pierce divided from this unsafe reduce boundary.


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